Come one come all, get your Bitcoin for a low low psychological resistance of $9,850! Sikeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee. Anything below 10k is a range. Yes, we broke out, but it doesn't mean jack crap all if it's not gonna keep going.
People, for DAYS I have been calling Hidden Bullish Divergence pretty much everywhere. Go ahead, check my previous charts. I'll wait. . .. ... .... ..... ...... ......................................................................................... Yeah, so anyway. Above we have a gorgeous chart of recent price action. Notice the price action going up, while the RSI goes down? This is basically indicating that the bulls are having to exhaust way less momentum, as time goes on. If you pay close attention to what the 15M, hourly, Bi-hourly, 4HR, 6HR, 12HR, and daily are painting in the RSI... You have the strongest buy signal even possible given current circumstances. Again, search my latest ideas.
I'll wa...
Yeah. You get the idea. Ever wonder why I consistently hit front page? I'm just some amateur that did his research. Will you? This isn't trading advice. This is a warning for those that do their homework.
Good luck and happy trading!
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P E R M A N E N T L Y
as in
PERMANENTLY
HODL.
If you're a good normal person and you're reading this, never, ever sell. Ever.
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There once was a bear who now turned bull, He saw the hidden divergence and said oh hell no! With his tail between his legs, he walked away, Renewed with spirit, he tried to say...
But dad, the bears, they are too strong! Little did he know, his dad went long. Oh but a trick, he played on the little one, He smiled with a grin, while bear-son went numb.
There are many lessons learned in this mini bear song, Especially why his dad went long, little bear-son Was starting to feel a little dumb Little bear son saw the bulls painting charts, Then and only then realized where he went wrong.
We never tested that once. What do you think will happen when we get rejected at 11k-12k?
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a breakout with momentum past 10k is a buy. If the RSI follows price action in bull, it means there should be a continuation of trend. Same goes for bear. However, say the RSI is going way up but the lows are getting lower, that means a reversal of bullish momentum. Opposite for a reversal of bearish momentum. Since price action is going higher on the lows but the RSI is getting lower lows, this means the bulls are lying in wait. They want the bears to take it down to a nice buy opportunity and then BBAAMM. Outta nowhere the price spikes.
The price spiking, if it has momentum, is a buy signal. By momentum I mean a very high RSI, big divergence on the MACD, volume on the PVT indicator going far up, etc.
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The best support to buy is at around $9,700. Again, this is not financial advice, just some research painted on a chart. :)
MOMENTUM is needed in order for 10k to be a buy, but considering current price action, $9,700-$9,750 is a great buy.
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Going to bed folks. Will update this idea when I get above 30 likes.
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A surprise stream incoming today! Anyone who would like a link to that and/or my private telegram channel just PM me.
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CORRECTION. In order to maintain bullish momentum we technically can't go bear. If we do we will be completing what I believe to be a head and shoulders pattern. This being said, look for a breakout around the arrow. With solid volume, and high RSI, this is the best signal we may get all day.
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Newest idea has been posted!
Feel free to PM me for my telegram or twitch link.
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REMEMBER PEOPLE. 10k+ with MOMENTUM is a buy NO SOONER.
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If we break the above 2 resistances with high RSI and high volume, this is a buy opportunity. Possibly one of your last good chances.
Remember. We need A LOT of momentum. I believe getting above these 2 resistances should get what we need going.
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This is the most bizarre dump I have ever seen. However, if we reverse here, this is going to be even MORE hidden bullish divergence. I will update this tomorrow.
I'm an 'amateur' trying to understand stuff by doing a lot of observation, but isn't a price trending up while the RSI trending down not bearish divergence?
deactivatedaccount123
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@TimDeleeuw, It is only Bearish if the price action is doing the same as the RSI. Bearish Divergence just simply means the bears are finally in control while the Bulls are exhausting themselves. In this instance, since the price is trending up while RSI is trending down, it means the bears are exhausting themselves. It gets tricky if price action remains the same as RSI, but as we speak it's the bears exhausting themselves, not the bulls.
deactivatedaccount123
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@TimDeleeuw, Correction. It is only bearish if the price is going down with a lesser RSI*
DaSmooth
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@mc_peewee, thanks but I'm confused... :-) If the RSI just follows price action in bearish or bullish action, it's not much of an indicator, right? Here I'm trying to figure out how strong the momentum is. And I see lower RSI each new high. I also see volume going down again. I'm tend to believe you since you are definitely more experienced but cautious!
deactivatedaccount123
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@TimDeleeuw, The above chart should of specifically stated, a breakout with momentum past 10k is a buy. If the RSI follows price action in bull, it means there should be a continuation of trend. Same goes for bear. However, say the RSI is going way up but the lows are getting lower, that means a reversal of bullish momentum. Opposite for a reversal of bearish momentum. Since price action is going higher on the lows but the RSI is getting lower lows, this means the bulls are lying in wait. They want the bears to take it down to a nice buy opportunity and then BBAAMM. Outta nowhere the price spikes.
The price spiking, if it has momentum, is a buy signal. By momentum I mean a very high RSI, big divergence on the MACD, volume on the PVT indicator going far up, etc.
DaSmooth
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@mc_peewee, ok, thx! :-)
Krypto-Talak
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10 000 ! ! ! You Should Not Pass ! ! !
AlanSantana
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@talak, We shall break this line and eat it as breakfast :)
deactivatedaccount123
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@alanmasters, ALAN. DEAR GOD. To even SEE you on an idea of mine :O
I uh...I'm kinda ... speechless. THANK YOU for gracing me with your presence :D
deactivatedaccount123
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@alanmasters, Would you care to take a look at my newest idea and tell me what you think?